john: i'm john heilemann. mark: i'm mark halperin. with all due respect to marco rubio, you are a shoe in. ♪ tonight, we are going for bush'sf a lineup for jeb campaign event in south carolina. we will start with the controversy that is already well-worned but might require a little bit of explaining. crisis.e shoebia on the surface, this is about the high-heeled boots marco rubio wore in new hampshire on

sunday which got a lot of attention. rubio's response to the subsequent media controversy says much about the current status and future prospects of his candidacy. for the unfamiliar, here is a quick catch-up. >> marco rubio's shoes. a reporter for the new york times sent the photo of his footwear in new hampshire. rick tyler, the key medications director for ted cruz -- a vote for marco rubio, is a vote for high-heeled booties. stories appeared on several outlets. finally, rubio had an up and called the fascination of his feet crazy. he wants to talk about real issues. the boots may make a comeback pretty soon. stay tuned. today, senator rubio came

out with a new video exchanging his heels for a pair of football cleats. ♪ mr. rubio: you get that? >> super bowl pick this year? mr. rubio: miami dolphins. >> first presidential debate or first college football game? mr. rubio: i was nervous about the first football game because you are actually going to be hit. >> most important preparation for a big game or big speech? mr. rubio: make sure there is water nearby, like right now. rubio is still introducing himself to the country. how would you say he is handling this current assault? john: there is a phrase coined by a pundit called the freak show. deepis marco rubio wading

into the swans of the freak show, or fashion swap. mp. i like the idea he's trying to keep control of his public image. may bethe fact his shoes back, but i think he is playing into some of the negative stereotypes about him and that is a bad thing. mark: in my reporting in the last couple of days, i have priced his stock higher. i think he is well-positioned compared to christie, bush and caskasich. doing that football ad made no sense. guy, great with people. i don't think he needs to prove that the people. national security election, maturity and ability to take on cruz and trump. i will say rubio, despite the shoe thing, going up against the freak show, he has been in a strong position and handling the flak ok.

john: his biggest problem is gravitas. the shoes and the football ad does nothing to enhance that. marco rubio was not the only republican candidate in the proverbial barrel. ted cruz is sending up questions on his stance on ethanol. it has been open season on chris christie's record on the economy, planned parenthood and gun control. jeb bush is countering claims that his campaign is desperate especially after a poll shows his favorability with republicans has dropped since july. which republicans, or any other republican that you want to talk about, is most deeply submerged in the barrel? mark: every one of them. we still have a tossup of holdings. i think every one of these guys have reason to worry.

now, they are back to saying jeb bush is dead. i don't know if it is true. christie, i think we still do not know how people react to him. the one to watch is cruz. sure that they are not affected by it. they say this is a bigger problem for him than i think. everybody is potentially in the barrel. john: that is so cheap, picking everybody. you said they are all in the barrel. look, i think the person deepest in the barrel is christie, mainly because the issues on he is foldable has been surface -- he's vulnerable has been surface. d. it makes some liberal in

the eyes of many republicans. they are coming out in force and i don't think he has a good response to them on the merits. mark: now for another matchup that is fun to watch, although the chance of it going to a full-fledged fight are not that great. i'm speaking about the matchup between bernie sanders and donald trump. last night in vermont, a couple of stone throws away from sanders' national headquarters, donald trump gave bernie the business. this afternoon in an interview, bernie told the world just what he thinks of trump. here is what it looks like when you smash them together. mr. trump: i would love to run against bernie. we all of bernie. do we love bernie? >> no. mr. trump: if you want to pay a 90% tax -- he wants to tax you at 90%. i was not sure. mr. sanders: i think he is a

pathological liar. he claims to have seen thousands of muslims celebrating the destruction of the twin towers on 9/11. he saw it on television. the only problem was it was never on television. it never happened. or the idea of saying bernie sanders wants to raise taxes by 90% is a lot. ie. mark: i'm surprised sanders has said he would not engage in personal attacks. is this sanders-trump engagement helping the democrats? john: let's answer the question on why bernie sanders is doing this. i asked a senior figure in his camp why? he replied, it is a quick and easy way to get into the news. this is pretty much a plug the stunt, violating

his penance of his candidacy by engaging in the policies of personal destruction. i think it is not a bad idea. i don't think it will help him win iowa. he has to do other things to get that done. mark: that is the game. he still has a close draw in iowa to beat hillary clinton. i think every day he is talking about trump. he is not talking about the issues that got him where he is. while it may inspire the people, at a minimum, he has the pivot away from trump. it hears offbeat to me to hear bernie sanders engaged against another politician when he pledged he would not do it. the approach of the golden globes this sunday got us thinking about celebrities and the political endorsements. u.s. women's soccer star abbey wany wombach was in new

hampshire campaigning for hillary clinton. they talked about women in power. >> i cannot talk about hillary clinton without als talking about the horrific gender attacks on every issue of her character. she is handled it with unimaginable calm. the way she has been treated is more evidence of the fact that our country has so much hatred toward successful women and an inability to separate their accomplishments of that of powerful men. >> i have been with powerful women throughout my whole life. it takes special women to rise up and to be able to fight the fight she has been able to fight for as long as she has in a role with many men

around her, pushing her down and telling her she is not good enough. john: i ask you, we always hear these celebrity endorsements, but how much does it matter? what good does it do for these days coming up to iowa and new hampshire? mark: they can draw a crowd and get people to sign up to register. those two surrogates are on message. that is really effective. outink celebrities going talking about messages may be more valuable than springsteen's concerts for john kerry. i think the right certai surrogates are pretty effective, particularly because you cannot be in every place at once. if hillary clinton cannot be in new hampshire, having people like that is good. john: celebrities have been dabbling in politics and had no affect. we live in the age of celebrity. i think for some voters, key voting blocs and young women,

these celebrity endorsements could be quite effective and they can help candidates. every candidate needs good surrogates and they will connect with a lot of other political surrogates that do not. mark: the markets, the notebooks, the jokes and the hunting with donald trump , jr. all of that when we come back. ♪

john: the stock market. sometimes it is up, sometimes it is down. yesterday, it was down big-time. here to explain is stephanie

ruhle. stephanie: not just yesterday. we had a rough week. john: these are the jobs numbers today which are fine. the market is the big story. talk to us about what is going on. stephanie: this has been a horrific start to the week. one of the worst five days we have seen and it is a bit of a perfect storm. we get bad data out of china. they are trying to strengthen exports. you go to chinese problems. saudi-iran tensions. one might think it will help oil prices but only sending them down further. it was during the time when the economy was straggling. this is a bad moment and a bad way to start the year. many people say i bad first-day leads to a bad week which leads to a bad here. john: i heard china. donald trump's success with

china. let's talk about china because that is what has been the focus this week. what is the china syndrome? stephanie: many people have looked to china for years. what an unbelievable growth it has been. they are dealing with the communist government that is consistent and intervening. there is a huge amount of retail investors who were hypersensitive. you can say china is growing faster than the united states, but you look at per capita gdp, china in terms of productivity -- the average chinese person, $6,900 a year versus americans at $48,000 year. where will you see this come from? many people say could be japan like in 1990. it would be bad. john: here is another thing you are focused on, puerto rico. why? stephanie: as it relates to the election. as this happens, if puerto rico has $7 billion worth of debt, a

horrible education system. peoplee 800,000 moving to the state of florida every month. these are democrats moving to florida. florida being a very important state -- marco rubio and all the conservatives -- this will affect that. virginia, ohio, florida -- those states matter. john: we got chaos in the markets, no sense of when it might end. i want to go to mark halperin down in south carolina. in this period of uncertainty, volatility and negativity, among the republicans in particular, who is dealing with this the best? who is poised to capitalize on this? mark: ted cruz is a pretty interesting tax plan. rubio has a tax plan and has an education reform plan. jeb bush has ideas on the economy.

trump, i think, because these are scary times, his message and talk about china, i think is the most likely benefit in a situation where voters face uncertainty. john: is it totally obvious to you? many people in this environment think hillary clinton is the beneficiary rather than bernie sanders or is this somewhere where sanders can capitalize because of his anti-wall street message? mark: i think sanders is still trying to broaden to people that support him. it will be a lot about turning out people who are inclined towards him. they would see that as pretty favorable. one of the challenges for hillary clinton right now is having a case on the economy, explaining it. i think she is working on that as are the republicans.

stephanie: if you took china out of the picture -- john: you cannot do it. stephanie: hillary clinton can run on that, basically getting the baton on barack obama and say look at the jobs i created. you've spent all of your time hanging out with rich people. stephanie: try, try. run: the men and women who wall street, when they look at these candidates in this moment, who do they look at and say that as someone who can run the economy? stephanie: wall street wants less volatility. they want to know who is running. at this point, it seems like this is hillary clinton's race. it was chris christie, they love him. jeb bush did nothing for himself. they are saying give us an answer. wall street was laughing at donald trump in the beginning and more and more are suddenly saying, i don't know, he has a strong message.

friend. spoke to your i said donald trump would be the next president. he had a coronary. stephanie: it is clinton all the way. john: it is great to have you here. next, we will go hunting with donald trump, jr., right after this. ♪

mr. trump: you know what a gun free zone is to a sicko? that is bait. they walk in with whatever the hell they are carrying. i want to get rid of gun free zones at schools. at military bases, my first day, a get signed. my first day.

there are no more gun free zones. mark: that was more of donald trump from last night in vermont talking about gun free zones. while trump is on the hunt for votes, his son is on the hunt for game literally. kevin tagalong with the junior trump. kevin: thank you for talking to bloomberg. mr. trump jr.: it is my pleasure. it is my first time not having a suit. kevin: where does the passion come from? mr. trump jr.: i had a grandfather, a blue-collar guy from eastern europe. he saw the great things i experienced in my lifestyle, in new york city in this great country. he said that is awesome but there are the pitfalls of being in a wealthy family. he wanted me to see the corollary of that. to czechoslovakia up to

eight weeks every summer. it was basically, there is woods, go have fun. it really got me into the outdoors. it has been good for me seeing the outdoors, not just living the city lifestyle. it has kept out of other troubles. whenever i can get someone young into the game and teach them -- for them, it is not just about being a city kid. i want somebody who can change biking,go motorcross experiencing life out of new york. i'm very outspoken about it. kevin: there is an environmental aspect to hunting. photos of youdid, went viral. mr. trump jr.: somebody had a picture of me on a hunt and said i was poaching.

that was not the story. kevin: it was legal? mr. trump jr.: it was legit. i'm a hunter. here is the benefit. here is what hunters have done throughout history with national parks and preserving habitats. the outdoors have been really good to me. it is something i want to give back. sorry. usual i'm so not the usual style. kevin: did you get that from dad? mr. trump jr.: yeah. kevin: what do you think is about the presidents executive order? mr. trump jr.: i have not been able to read all of that. what i see is all of the things -- it is designed for people who was never handled a gun. you look at the state tax in new york, the legislation was ridiculous. police officers are committing a felony by carrying their guns to

work. it was done so poorly. people do not understand. it seems to only affect people like me who are willing to play by the law. you look at california, chicago, places that have the strictest -- criminals do not follow the law. i don't know why i should be in a position -- i'm a competitive shooter. they are now illegal in new york state. i think the big joke over the holidays was the department of the interior. it was a pretty good job. ofk: ivanka trump gets a lot attention but both of her impressedi have been every time i see them. they are articulate an incredibly passionate advocates of their father and reinforce a lot of his political messages. john: you think about trump and

the way he has got over bill clinton. he has a complicated personal life of his own. multiple marriages and has been fond of women in various states of undress with the beauty pageants he has been associated with. yet, the family he has put together through the various marriages is very impressive. rzas talking earlier to clan, heblue tanwu-tang said he loves the family. he admires donald trump as a man. rza is not alone in that view. mark: we will see a lot of the kids out on the trail for the candidates. some of the kids want to experience what it is like an iowa and new hampshire talking to the campaigns and candidates. they are excited to see what it is like, including what we have not seen. you will see the trump kids.

it will be a family affair as we go to the end. that ramps up the emotional level for all these families and all the spouses. sometimes this will be hard on the kids. john: who is her familyour favoe trump family member? mark: i like them all equally. i don't like to choose. i do find their ability to stay on message pretty impressive. our thanks to kevin and donald jr. and megaben ginsberg strategist steve mcmahon will . we will talk about the week in politics after this. ♪

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republican superlawyer and democratic strategist to help us dissect the first week of the 2016 calendar. it has been eventful on both sides. i am going to ask you a classic week in review question. of all the action in your party this week, what has struck you as the most significant, politically? >> the circular firing squad where people in the establishment are shooting at the battle is engaged between donald trump and ted cruz. with the donald trump-ted cruz dustup, does anybody clearly have the upper hand? >> i think donald trump managed to inject some questions about ted cruz that were not injected

before. there's always an issue about whether he goes too far, but yes, i think there were some new things. democratic side, most significant thing of the week? when you watch senator tangle witht to hillary clinton on wall street reform, it's the first we have really seen of an aggressive bernie sanders. the other thing to watch is whether nbc decides that martin leveley is not at the that would enable him to participate in the debates. they put out a qualification statement that basically said if you are not a 5% you cannot participate. not. i think it would be a mistake not to include him, but we will see what happens. has amark halperin special guest with him in south carolina. that would be jeb bush. eventgovernor bush has an here.

look who's here, it's jeb bush. governor, you know what they .ave here, meat and three you like that? jeb: this is all good and you get to cheat on the paleo diet. mark: how is it going? jeb: going well. a lot of the lindsey graham supporters are coming our way and i feel good about it. talked aboute national security throughout the campaign. do you feel it there are differences between you, marco, ted cruz, on the issues of national security or is it more about leadership? jeb: i think it's more about leadership than anything else, but i do think there are differences and it's healthy to discuss them. america's leadership in the world is important. donald trump says things that are silly and dangerous. they also show a lack of belief

that the united states should lead and we have to lead. it is in our national security interest to do so. mark: does the political culture feel different here than in new hampshire? jeb: you cannot find for morerent states -- four different states than the first quarter states of the primary. is the confidence level in the bush family? your sons in particular, how are they feeling? jeb: they are feeling good. they are encouraging their dad, which is their job. do you still have full confidence in tim miller? jeb: no, he is on the line tonight. night to have a good

tonight or he is canned. confidence in him ed's inflows. ebbs back to our guest -- and flows. john, back to our guests, who we interrupted. john: you can interrupt for jeb bush anytime. ben, dead or starting to show new life? say i haveet me confidence in tim miller. john: you are the only one. >> he used to be a client. think there has always been life in jeb bush. , think when the voting starts he needs to shine really, really quickly. i never thought he was dead. john: steve, what about you?

steve: there is no discernible pulse, but i agree with ben. i think voters have a way of focusing and when the choice gets nearer and more significant, and i think republican voters especially, who are used to picking the next person up, are trained to do that. you look at him by qualification, is probably the most qualified person running for president. i don't understand why his campaign has not been better. i think if you showed a little more of what he just showed on your program, he would be doing better. you used the phrase "circular firing squad" when we started this block. the metaphor is basically that everyone dies. i presume you don't think everyone is going to die, so who is left standing, at this point, if you had to gauge?

who is in a pool of blood and who is likely to remain upright? be threeink there will lanes coming out of february. a trump lane, a conservative lane that looks like ted cruz still standing, and the establishment lane, and that's the tough one. right now, you could say john kasich in jeb bush have the biggest challenge to get out of it. -- and jeb bush have the biggest challenge to get out of it. marco rubio has to show his merits. john: steve, let me ask you a question on a slightly different topic that has been going on for a couple of weeks, donald trump going after bill clinton's personal life in increasingly vitriolic, unprovoked, florid ways. or dumb forump trump, and from the clinton standpoint, good for the

clintons or bad for the clintons? primary,a republican vitriol aimed at democrats, particularly a democratic icon, seems to be rewarded. think about president obama and how much republican voters have rewarded vitriol aimed at him. donaldr someone like trump comes along and does this, people like it. is it smart politics? probably. is it effective as a candidate for president in the general election? i don't think it is. this is built into the value of the stock, if you will. people have already made their judgments about bill clinton, and he is one of the most popular politicians in america today. to be a guy with a favorability of 75 attack in a guy with a

favorability of 70 is not smart if you want to win general elections. i think it probably helps hillary becausit wasn't her sin that he is being critical of. she was an innocent bystander, and i think people see that and that's the way to view it. there a problem for ted cruz on a legal ground that you -- does his birth in canada oppose any real legal problems as far as his eligibility to be president? i don't believe so. the supreme court has not ruled on the issue. i don't believe it will be a problem in his campaign. the political damage could come from his stance on immigration and reminding people that he is cuban the wave -- the way trump is could have an impact. and steve, thank you

and 90 for hanging in while jeb bush caught some of your limelight. foren and steve, thank you hanging in while jeb bush caught some of your limelight. and thank you for being here. ♪

tok: back in south carolina talk a little politics with margaret, one of our colleagues. state of the union next week, president obama. they are trying to make this a big deal.

does the white house seem on track to get attention in the midst of a presidential campaign? margaret: they are really trying to downplay it or up play it. his idea, his hope is that he can continue to harness some of the public's attention in this last year and finally set a path for his legacy going forward. elections -- your sense of what the headline will be tuesday morning after the speech? margaret: hope and change is still alive. mark: and then he is going to .ravel around the country what do they hope happens aside from hope and change? margaret: economic victory lap, that people still pay attention

to him and that hillary doesn't run away with everything he is talking about. his positiveabout message compared to the kind of "make americag," " kind of thing. mark: how does the white house see trump? margaret: they see trump as not going away but rubio is rising. mark: national security has been a big deal in the white house. it seems like with the state of the union you are trying to get back to domestic issues. do they feel they are not getting enough credit on the economy? margaret: absolutely. and they are trying to take some focus away from isis in terms of the political crisis. -- political points.

mark: thanks very much. john, back up to you to talk to jennifer. spent annifer, you have long time following the clintons around. over the last week, what have you seen? what has stood out to you? jennifer: just that this is really about keeping bill clinton in the background, helping with the organizing, getting people out there who might not be out there for hillary, but it really is about her, her the one making news, her the one who's really getting voters excited, and he is just there as backup. he has been very mutated and -- jennifer: on message. restrained in the face of these attacks by donald trump. can you see the strain showing? jennifer: i think there is probably a part of him champing

at the bit that wants to get .ore engaged in iowa he said if we get to the thet where she is nominee and he is the nominee, we will get into it then. ishink that is where he going to try to stay as long as possible. they know that if they say something back to trump, trump will go back at them and they will keep playing the game. had that instagram video yesterday tying together anthony weiner, bill cosby, monica lewinsky. bernie sanders has an issue with gun control. talk about that. jennifer: president obama is doing the big push this week and said basically, he is not going

vote for somebody he doesn't think stands for the kind of gun laws he supports. that has been perceived as him not supporting bernie sanders. the press secretary said the sanders campaign claimed that sanders has zero distance from obama on guns, no daylight, that that is absolutely untrue. this conference call after the sanders campaign says there is no daylight between sanders and obama. when they say things like that, do they do a unified high-five for high 10? high 20. for months, they have been talking about how she has a long history that is much more in line with the electorate than he

does. guns are a hot issue now and it doesn't seem to be going away. these tragedies just help them out. john: you are awesome. margaret in south carolina. you are awesome. up next, we will talk about late-night shows and the election. you are watching us and you can listen to us on the radio. we will be right back. ♪

busy intersection

of politics and pop culture stands a bevy of late night comedians. also standing with them is our correspondent, will f leach. here is his guide to how to navigate the ever shifting late-night landscape. >> 2015 was the most among choice year in late-night history. letterman retired. john stuart was replaced by someone no one had ever heard of. stephen colbert left comedy central. then reappeared. in between, he grew a beard. it's all been confusing. candidates have to decide which show to appear on when they may have more power than ever. here now is a guide. first up, conan o'brien. nerd king nowts barely registers, sad to say.

his ratings are below and the cohens and carson. not one presidential -- andy daly's.and carson not one presidential candidate has been on his program. he just did a whole show from cuba. better days may have passed him by. never know it still finding his footing and the candidates have trevor noah is still finding his footing, and the candidates have not come. his interview technique is as a baffled outsider. trevor: donald trump is the human embodiment of times square, old, loud, flashy, full of garbage. meyers has some of

the strongest political commentary out there. , evenkilling trevor noah though he airs 90 minutes later. he has an earnest feature that is seven minutes long called "a closer look." you ever seen a politician declined to take credit for something good that happened in their state? that would be like kanye west saying i don't deserve this award. give it to the sound mixer. it wasn't me. moremmy kimmel is then david letterman, but he has a way of getting interviewees to lighten up.

see if you can get him to let you do the politicians repeating angry tweets segment. >> coors light is now $23 at sun stop. thanks, obama. >> and then there is jimmy fallon. imitation and i could tell you if it is good or not? what i kind of talk like this. >> you just have to play along with his silly games. he's there to make you look good. the audience share and the online buzz is more than worth it. you may have to pretend to laugh at his donald trump impressions. >> i am sure i will see you at

the next one. >> finally, stephen colbert. no one has shaken up the late-night landscape like colbert has. he deals with politics regularly, and has proven a surprising ability to bring in candidates from both parties. he broke through with an joeional interview with biden, and despite all probability, he made ted cruz looked charming -- briefly. steven: do you believe it's call the othero side the devil? >> absolutely. there is nothing diabolical about them. >> you may just learn something about yourself. that's a lot of shows out there and there is a wildcard coming in february, samantha bee

's new show, "full frontal" starting in february. ♪

john: we are live 24/7 on bloombergpolitics.com. whyk out a great piece on car dealers hate political tv ads. we mentioned before, you can always hear this program live on the radio on 91.1 fm. on monday, we will be in iowa with a special "all due respect." thanks for watching. sayonara. ♪

emily: i am emily chang and you are watching "bloomberg west." get started with your first word news. major indexes saw their worst

weekly declines in more than four years. the s&p 500 ended the week 6% lower, one of the worst starts of the year in history. oil has reached its lowest level in more than five years. mexico says a fugitive drug lord has been recaptured. mexico's president tweeted, "mission accomplished, we have him." el chapo escaped from one of mexico's most secure prisons using a mile-long tunnel that opened in his cell shower. president obama vetoed legislation to repeal the signature health care law, as expected. this was the first repeal to clear both houses of congress and make it to the president's desk. it w